Naperville, IL -- (SBWIRE) -- 01/15/2013 -- Oil and Gas Exploration and Production in the North Sea - Market Analysis, Competitive Landscape and Forecast to 2020”, is the latest report . It analyzes the oil and gas exploration and production industry in the North Sea region and provides information on historic production, estimated production and key companies in the North Sea region of major littoral countries, namely the UK, Norway, Denmark, the Netherlands and Germany. The report also outlines the key drivers and challenges for the industry in the current environment. It is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by team of industry experts.
This report provides detailed analysis of the oil and gas industry in the North Sea region, as well as the key companies, trends and issues in the industry until 2020. It primarily focuses on -
- Drivers of and challenges to oil and gas exploration and production in the North Sea region
- Major littoral countries’ contributions to the North Sea region’s total oil and gas production
- Key companies engaged in oil and gas exploration and production industry in the North Sea region
- Gross oil and gas production from the North Sea region, forecast until 2020
- Key exploration and production environment and infrastructure details in the UK, Norway, the Netherlands, Denmark and Germany
- Overview of the competitive landscape of the companies engaged in exploration and production activities in the North Sea region
Enhanced Oil Recovery Technology Aims to Address North Sea Production Drop
With North Sea production dropping each year, the UK is employing Enhanced Oil Recovery (EOR) techniques in an effort to maximize the amount of oil that can be recovered from the area’s matured reservoirs, says a new report from business intelligence providers .
The study* states that North Sea oil and gas production has declined at an Annual Average Growth Rate (AAGR) of 7.7% between 2006 and 2011, from 2,599 million barrels of oil equivalent (MMboe) to 1,772 MMboe.
Production levels are expected to decrease further still in the future, with major fields such as Ekofisk, Kvitebjørn and Elgin expected to witness declining output.
The UK, the leading North Sea producer in terms of the number of exploration blocks, will fight depleting hydrocarbon returns by introducing the Centre for North Sea Enhanced Oil Recovery, a facility announced in May 2012, wholly dedicated to EOR from the North Sea.
EOR procedures include infusing CO2 gas into oil fields deep below the sea-bed to force out extra amounts of oil and it has been projected that the center will use this technology to store up to 75 million metric tons of carbon dioxide (CO2) from each Carbon Capture and Storage (CCS) power plant project, and increase the quantity of oil extracted from reservoirs underneath the waters.
With this new facility in place, the UK could lead the EU with the biggest Carbon Storage Capacity (CSC) in the region and hold a competitive advantage in both manpower and infrastructure.
Forecasts say North Sea oil and gas production to drop from 1,702 MMboe in 2012 to 1,447 MMboe in 2020, representing a negative AAGR of 2%.
Reasons to buy
The report will enhance your decision-making by allowing you to -
- Develop business strategies with the help of specific insights into the oil and gas exploration and production market in the North Sea region
- Identify opportunities and challenges in the oil and gas industry in the North Sea region
- Plan your strategies based on expected developments in the oil and gas exploration activities in the North Sea region
- Understand the competitive landscape of this emerging market in the North Sea region
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